Adobe Inc (NASDAQ:ADBE) CEO Shantanu Narayen sold 10,000 shares of Adobe stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $438.10, for a total value of $4,381,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shantanu Narayen also recently made the following trade(s):

  • On Wednesday, July 22nd, Shantanu Narayen sold 10,000 shares of Adobe stock. The shares were sold at an average price of $445.00, for a total value of $4,450,000.00.
  • On Wednesday, July 15th, Shantanu Narayen sold 10,000 shares of Adobe stock. The shares were sold at an average price of $432.68, for a total value of $4,326,800.00.

NASDAQ ADBE opened at $444.32 on Friday. Adobe Inc has a fifty-two week low of $255.13 and a fifty-two week high of $470.61. The stock has a market cap of $213.13 billion, a price-to-earnings ratio of 58.62, a price-to-earnings-growth ratio of 3.41 and a beta of 0.93. The business has a fifty day moving average of $434.17 and a 200-day moving average of $370.59. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.38.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, June 11th. The software company reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.33 by $0.12. Adobe had a return on equity of 35.53% and a net margin of 30.72%. The company had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the firm posted $1.83 earnings per share. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, analysts anticipate that Adobe Inc will post 8.05 EPS for the current year.

Several analysts have recently commented on ADBE shares. Barclays reissued a “buy” rating and issued a $450.00 price target on shares of Adobe in a report on Wednesday, June 10th. Griffin Securities raised their price target on Adobe from $334.00 to $427.00 and gave the company a “buy” rating in a report on Friday, June 12th. Jefferies Financial Group raised their price target on Adobe from $450.00 to $470.00 and gave the company a “buy” rating in a report on Friday, June 12th. Credit Suisse Group raised their price target on Adobe from $415.00 to $425.00 and gave the company an “outperform” rating in a report on Friday, June 12th. Finally, Bank of America raised their price target on Adobe from $330.00 to $440.00 and gave the company a “buy” rating in a report on Friday, June 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-one have given a buy rating to the company’s stock. Adobe presently has an average rating of “Buy” and an average target price of $407.43.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Adobe by 6.5% in the first quarter. BlackRock Inc. now owns 36,445,773 shares of the software company’s stock valued at $11,598,502,000 after purchasing an additional 2,219,627 shares during the period. Jennison Associates LLC grew its position in shares of Adobe by 1.3% in the first quarter. Jennison Associates LLC now owns 7,486,574 shares of the software company’s stock valued at $2,382,527,000 after purchasing an additional 98,908 shares during the period. Geode Capital Management LLC grew its position in shares of Adobe by 6.6% in the first quarter. Geode Capital Management LLC now owns 7,324,999 shares of the software company’s stock valued at $2,326,855,000 after purchasing an additional 452,565 shares during the period. Polen Capital Management LLC grew its position in shares of Adobe by 3.6% in the first quarter. Polen Capital Management LLC now owns 5,134,597 shares of the software company’s stock valued at $1,634,034,000 after purchasing an additional 180,710 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of Adobe by 24.3% in the first quarter. Fisher Asset Management LLC now owns 5,131,883 shares of the software company’s stock valued at $1,633,171,000 after purchasing an additional 1,003,724 shares during the period. 84.20% of the stock is owned by institutional investors and hedge funds.

About Adobe

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

Featured Article: Support Level

Insider Buying and Selling by Quarter for Adobe (NASDAQ:ADBE)

Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.